Georgia's Gross External Debt Hits $26.5 Billion, Up $1.1 Billion in Quarter
Georgia's gross external debt has risen to USD 26.5 billion, a 1.1 billion increase in the quarter, primarily due to currency fluctuations. This represents 75.1% of the country's GDP.
The debt is predominantly denominated in foreign currency, with 87% held in foreign currencies. The public sector accounts for USD 11.5 billion, while the banking sector holds USD 9.1 billion. Other sectors owe USD 4.9 billion. Intercompany lending amounts to USD 2.7 billion.
The National Bank of Georgia's external liabilities have slightly decreased to USD 821.1 million. The International Monetary Fund's (IMF) share of Georgia's external debt stands at approximately USD 600 million. Net external debt is USD 13.8 billion, representing 39% of GDP.
Georgia's external debt continues to rise, driven by currency exchange rate changes. The debt-to-GDP ratio remains high at 75.1%. The IMF's role in Georgia's debt is significant, with a share of approximately 600 million USD. The country's external debt is primarily held by the public and banking sectors.
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